what’s happened to ireland

Wednesday, November 24th, 2010

the country has an unemployment rate of 14%, while far lower than the 20% in spain, it’s seemingly struggling a bit more. in 2009, christopher caldwell, who alternately contributes to the financial times and the weekly standard, wrote a lengthy piece on the new irish troubles that still englightens.

prior to the big bust of 2008–the one no one dares refers to as a depression, almost 80% of people in ireland owned their own houses (or apartments–we here choose never to refer to an apartment as a house).

now germany, and presumably france, who unwillingly lined up to assist greece last spring by forking over 20B a piece–about 250 per taxpaper’s head just in time to usher in the summer, are about to open their pocket books again. –pocket books. antiquated word. we know.

now, santa has approached these countries once again, in search of a handout. presumably the netherlands and the other eu countries will chip in –minus the other places whose populations gorged themselves on apartments and houses they couldn’t afford and placed all their financial aid in construction (a thinly veiled reference to spain and portugal.)

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